MBO Manager
Self-service configurable platform to set, track rate, and approve non-sales-based subjective KPIs by leveraging defined guard rails along with built-in discussion / commenting capability. Configure objective setting, rating, and reporting features and vary them by division/salesforce with their desired hierarchy and approval workflow.
Need an industry-agnostic solution instead? Check out Incentivate
Key Features
Personalized objective setting
Enables qualitative objective setting at the individual level within a set framework with the additional capability to bulk-define objectives for the selected group if desired
Configurable rating framework
Define an objective rating system, and approval workflow to align with organizational goals and guidelines
Process-driven evaluation workflow
An embedded multi-layered objective evaluation framework that can be configured to define the steps and the constraints
Objective process timeline management
Configurable objective setting timeline with an integrated notification approach to ensure high adherence to defined timelines
Key Features
Personalized objective setting
Enables qualitative objective setting at the individual level within a set framework with the additional capability to bulk-define objectives for the selected group if desired
Configurable rating framework
Define an objective rating system, and approval workflow to align with organizational goals and guidelines
Process-driven evaluation workflow
An embedded multi-layered objective evaluation framework that can be configured to define the steps and the constraints
Objective process timeline management
Configurable objective setting timeline with an integrated notification approach to ensure high adherence to defined timelines
Differentiators
Ready to deploy workflow capability
Built-in tracking and validation framework to ensure high adherence and timely completion of the process
Configurable hierarchy exception management
Hierarchy management and interim manager delegation to account for leaves and any other last-minute HR exceptions
Embedded 2-way communication channel
Self-review with built-in collaboration to ensure 2-way communication. Constant guidance, coaching, and feedback ensure no end-period surprises
Configurable guidelines for notifications
Configurable reminders and notifications to ensure that the process is completed on time
One-stop objective process management
Embedded admin dashboard for objective process management and to view the performance of reporting reps on one screen
MBO Manager – Managing Objectives Made Easy
As a business owner, if you want to improve the productivity of your workforce, you have to start by setting clear objectives. When your employees have well-defined targets, they will know what is expected from them. It allows your staff to channel their talent and ideas to work towards more effective and efficient results.
Management by Objectives (MBO) refers to defining objectives for the company that are mutually agreed upon by the management and employees. As a strategy, MBO goal setting can significantly improve the company’s internal efficiency, driving it forward in a highly competitive market.
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MBO goal examples are usually set to establish the primary goals of employees, which are later rated through group or manager feedback to determine efficacy. Not only does it benefit the company, but it also allows corporate employees to put efforts in the right direction to facilitate their professional development. The ultimate result of an MBO manager is an increased consistency between actions and consequences, enhancing company productivity immensely.
Why Do Organizations Need MBO Compensation Management?
There are multiple reasons why organizations would choose to have an MBO manager.
MBO goal setting can help them –
- Link impacted sales data with specific salespeople
- Improve performance by refining data quality
- Avoid delay in final performance data availability
- Facilitate other non-sales activities, including training, coaching, etc.
Risk of Poor MBO Goal Setting
When MBO goal examples are poor, it can cause several problems within the organization. Let’s take a look at how bad MBO compensation management can affect your company –
- Subjective evaluations can spread the perception of unfairness or favoritism.
- Reduced differentiation among salesforce could make better performers discontent and unmotivated.
- Increased administrative burden for field management.
- Instead of ‘managing the performance,’ it could lead to ‘managing the manager.’
Best Practices for Creating an Effective MBO Program
There are certain things that must be kept in mind to create an effective MBO Compensation program. Here’s how you can design a better MBO program –
- Educating managers by set goals and objectives by referring to the SMART framework
- Proactively communicating the desired activities and linking them with the expected outcome
- Taking updates, guiding salespeople, and providing feedback whenever necessary
- Designing a measurement scale to differentiate performance according to different achievement levels
- Defining strong process governance and incorporating an all-round communication framework
- Identifying the right set of tools needed for summarizing and using MBO outcomes at the time of performance appraisal.
Get Your MBO Manager Today!
At Aurochs, our specialized MBO Manager can help create, manage, rate, and approve MBO goal examples across your salesforce at various levels. With configurable objective setting, reporting, and rating features, you can streamline your workflow and align it with your organizational needs and guidelines.
With a conversational feature to discuss performance on objectives, our MBO Compensation platform enables employees to seek guidance from managers regarding their assigned goals. Similarly, managers can use the channel to offer ongoing feedback to improve employee performance scorecard.
Setting and managing MBOs couldn’t get any easier! If you’re interested in our MBO Management system, get in touch with us today!